Thursday, July 9, 2009

Stand-up comic up to no good

For all his verbal jugglery, funny man, Laloo really has nothing much to show for his performance. We now learn his much praised tenure as the rail minister was nothing but a fraud. Much like all of the UPA's "social justice" policies, Laloo's claim of having earned crores in profits for the railways is a sham. Here's what Mamta said in the Lok Sabha on Thursday -

“Some people have spoken about a profit of Rs 90,000 crore.But one can just not talk about the income and skip the expenditure part. Afterspending Rs 28,200 crore on account of the Sixth Pay Commission award for twoyears, we are left with a cash surplus of just Rs 8,361 crore. This balance isafter taking the entire last five years into account,” Mamata Banerjee revealedwhile replaying to the debate on Railway Budget for 2009-10 in the Lok Sabha onThursday. [Link]

Here's a summary -

What Mamata exposedOne cannot just talk about incomeand skip expenditure partAfter spending Rs 28,200 crore on account of theSixth Pay Commission for two years, we are left with a cash surplus of just Rs8,361 crore against much-hyped Lalu claim of Rs 90,000 cr of profitThisbalance is after taking the last five years into accountWe are not here tobuild up balances of the Ministry but to create infrastructureMinisters maycome and go but the institution remainsWe want a railway that is foreveryone and not for someone specialReiterates her commitment to come outwith a white paper [Link]

Strangely, when faced with this damning revelation, he didn't seem to have much to say except put up a funny face.

A shell-shocked Lalu Prasad was leftspeechless as Mamata seemed well-prepared and armed with every fact and figureto supplement her claims. Lalu remained a mute spectator as the Bengal tigresswent on demolishing the myth he had created in all these years. “We are not hereto build up balances of the Ministry but to create infrastructure. Ministers maycome and go, but the institution remains. We want a Railway that is for everyoneand not for someone special,” Mamata said. [Link]

Yeah, and all this right under the nose of an "honest liberal economist".